Common use of Budget Overruns; Program Changes Clause in Contracts

Budget Overruns; Program Changes. The Manager shall promptly notify the Management Committee of any material departure from an adopted Program and Budget. If an adopted Budget is exceeded by more than fifteen percent (15%) in the aggregate, then the excess over twelve and one-half percent (12.5%), unless authorized or ratified by the Management Committee, shall be for the sole account of the Manager and such excess shall not be included in the calculations of Ownership Interests nor deemed a contribution under the Agreement. Budget overruns of twenty percent (20%) or less in the aggregate shall be borne by the Members in proportion to their respective Ownership Interests.

Budget Overruns; Program Changes. The Manager shall promptly immediately notify the Management Committee of any material departure from an adopted Program and Budget. If the Manager exceeds an adopted Budget is exceeded by more than fifteen percent (1515.0%) in the aggregate, then the excess over twelve and one-half fifteen percent (12.515.0%), unless authorized or ratified by the Management Committee, shall be for the sole account of the Manager and such excess shall not be included in the calculations of the Ownership Interests nor deemed a contribution under the this Agreement. Budget overruns of twenty fifteen percent (2015.0%) or less in the aggregate shall be borne by the Members in proportion to their respective respec­tive Ownership Interests.

Budget Overruns; Program Changes. The Manager shall promptly immediately notify the Management Committee of any material departure from an adopted Program and Budget. If the Manager exceeds an adopted Budget is exceeded by more than fifteen ten percent (1510%) in the aggregate, then the excess over twelve and one-half ten percent (12.510%), unless authorized or ratified by the Management Committee, shall be for the sole account of the Manager and such excess shall not be included in the calculations of the Ownership Interests nor deemed a contribution under the this Agreement. Budget overruns of twenty ten percent (2010%) or less in the aggregate shall be borne by the Members in proportion to their respective Ownership Interests.

Budget Overruns; Program Changes. The Manager shall promptly immediately notify the Management Committee of any material departure from an adopted Program and Budget. If the Manager exceeds an adopted Budget is exceeded by more than fifteen percent (15%) in the aggregate, then the excess over twelve and one-half fifteen percent (12.515%), unless authorized or ratified by the Management Committee, shall be for the sole account of the Manager and such excess shall not be included in the calculations of the Ownership Interests nor deemed a contribution under the this Agreement. Budget overruns of twenty fifteen percent (2015%) or less in the aggregate shall be borne by the Members in proportion to their respective respec­tive Ownership Interests.